14:10 08 October 2017
Millenials have very specific interest and right now, they are into smart home technology. According to a recent survey conducted by Wakefield Research, 86per cent of millenials are willing to pay more for a home or a rental property if it has smart technology.
The survey adds that millenials are willing to pay an average of 20per cent more per month to ensure that the property is secured. They like keyless locks, electronic access, interconnected doorbells, mobile-controlled security systems, and voice-activated assistants, among others.
Meanwhile, the survey added that 65per cent of baby boomers or 65+ citizens said they would pay more for smart tech in their homes.
Because of this demand from both millenials and baby boomers, the projection of smart home revenue for 2017 is about £11 billion. It is expected to increase exponentially in the coming years as more buyers are investing into the following:
· Smart thermostats
· Smart watering systems
· Smart doors and locks